A10 Networks Deploys Leeyo’s RevPro for Revenue Recognition, Automation and Management
Companies with complex, multiple element sales arrangements benefit from RevPro’s extreme automation and ‘intelligent revenue’ capabilities
SANTA CLARA, CA – Leeyo Software, a provider of software for revenue recognition automation and management, today announced that A10 Networks, a global leader in Application Networking, recently implemented RevPro, Leeyo’s industry-leading revenue automation solution. A10’s flagship AX Series platforms deliver solutions for Application Delivery/Server Load Balancing, IPv6 Migration and Cloud Computing & Virtualization. A10 was recently named both one of the fastest growing private companies in North America and Silicon Valley, and one of the “Top Work Places” in the San Francisco Bay Area.
Companies who, like A10 Networks, employ multiple element sales arrangements face particular challenges managing their revenue recognition processes. New and changing financial guidance has increased demands on revenue recognition teams, making processes more complex and increasing potential penalties for errors in revenue recognition, allocation and reporting. And, since the major ERP systems in use around the world do not include the kind of robust revenue cycle management capabilities needed to meet these accounting and regulatory requirements, many companies find they are forced to create and continually update very large, customized, stand-alone spreadsheets to help track and allocate revenue.
In early 2012, Stuart Mar, A10 Networks’ Corporate Controller, led the search that resulted in the selection of RevPro. A10’s choice was made based on a number of factors, including the need to reduce the time needed to close the financial period, ensure compliance with the latest guidance, achieve greater accuracy in revenue management, and provide executives even better tools for revenue forecasting and reporting.
“Holding our revenue data within a single system and calculating revenue consistently outside of a spreadsheet were extremely important to us,” Stuart Mar said recently. “Housing our revenue information in one place will assist us to forecast and slice-and-dice our data more thoroughly than we ever could before RevPro.”
Mar said, “We recognize revenue in different ways and at different times from multiple product lines. Current GAAP guidance complexities and intricacies within our business were drivers for seeking out a revenue automation solution.”
“A10 Networks is a growing company with growing and changing needs for revenue recognition capabilities, and we’re very pleased to have been able to work together with them through a number of challenges to deliver a world-class revenue recognition solution,” said Ram Srinivasan, Leeyo’s Senior Director of Professional Services. . “The need for revenue management automation tools in the enterprise continues to grow, and A10 is a wonderful example of how companies can derive great business benefit from the RevPro suite.”
RevPro automates and manages every process facing a revenue team – seamlessly integrating with the quote-to-cash processes of any ERP system to deliver unparalleled visibility, functionality and configurability to the revenue recognition and reporting process.With RevPro, users:
- Automate all key revenue recognition requirements
- Simplify all aspects of revenue and COGS management
- Monitor revenue and all related activities on a real-time basis
- Improve accuracy of revenue forecasting
- Accelerate financial period-end close and revenue reporting cycles
- Stay current and in compliance with the latest revenue guidance
- Eliminate time-consuming and error-prone manual systems
- Deploy on premise or in the cloud
Leeyo’s next-generation revenue recognition software rescues companies and revenue teams of all sizes from the chaos of today’s manual data entry or customized processes. Leeyo’s RevPro – the most complete revenue recognition software suite on the market – automates and manages every process facing a revenue team – seamlessly integrating with the quote-to-cash processes of any ERP system to deliver unparalleled visibility, functionality and configurability to the revenue recognition and reporting process. Learn more about Leeyo and RevPro at http://www.Leeyo.com.
Contact: Matt Ream